https://www.taxtmi.com/article/detailed?id=6612 Rule 114B mandates that sellers of high value goods or services record buyer and seller PAN on invoices and verify PAN copies when the buyer has PAN. If the buyer lacks PAN, the seller must obtain Form 60 with KYC, register once as a reporting entity, and file half yearly returns for such transactions. Cash high value transactions trigger additional reporting obligations including registration as a reporting entity, PAN recording/verification or Form 60 collection, half yearly reporting for non PAN buyers, and an annual return to the tax intelligence unit. en-us Sat, 02 Jan 2016 00:32:58 +0530 Sat, 02 Jan 2016 00:32:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6612 Rule 114B mandates that sellers of high value goods or services record buyer and seller PAN on invoices and verify PAN copies when the buyer has PAN. If the buyer lacks PAN, the seller must obtain Form 60 with KYC, register once as a reporting entity, and file half yearly returns for such transactions. Cash high value transactions trigger additional reporting obligations including registration as a reporting entity, PAN recording/verification or Form 60 collection, half yearly reporting for non PAN buyers, and an annual return to the tax intelligence unit. Articles Income Tax Sat, 02 Jan 2016 00:32:58 +0530 https://www.taxtmi.com/article/detailed?id=6612